Chia, a space-time proof project, has launched an Alpha test network, which is scheduled to receive SEC approval before the product is released to market

Block rhythm BlockBeats message, space-time proof project & NBSP; Chia announced yesterday in the Telegraph Community that the Alpha Beta has been released. Chia uses a consensus algorithm called Proof Of Space and Time, created by Bram Cohen (the creator Of BitTorrent). Instead of mining, Chia uses "farming", which is a way of acquiring blocks using existing free hard disk space spread across nodes around the world.

Chia has previously been backed by Crunchbase, Greylock Partners, Naval Ravikant, and A16Z, which raised $3.4 million in a seed round. Chia intends to complete an IPO that is registered with the Securities and Exchange Commission (SEC) prior to the official offering of the product.

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